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Profile picture for LeiW

Is there any lender in CA provide non-warrantable condo refinance?

Owner occupancy ratio is less than 50%.
  • September 25 2013 - Santa Clara
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Answers (19)

Wells Fargo can do non-warrantable condos.  The loan gets done quicker if we already have a recent HOA cert completed already and have done a loan in that complex in the last year.  Feel free to post the name of the complex and the address and i'll look it up in our database

Or feel free to contact me to privately relay that information.  thanks
  • September 14 2014
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Profile picture for aracz
Hi,

I know a lender that I can run it by. Please email me from my profile with the specific details and I can ask him.

Kind regards,

Arpad
  • September 13 2014
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I have a source if you haven't found a lender yet.
Call me: [Content removed by Zillow moderator, see our Good Neighbor Policy for posting guidelines]
  • September 11 2014
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Profile picture for jimmyruiz5
I am buying a Town House/Condo in Santa Ana CA 92705.
Great credit! Wife employed 28 years myself 4 years in present job!
great income! low debt..

in escrow..pending loan!  need to plug a loan to close escrow.
3 lenders have failed for 3 different reasons after assuring they can do it! 
1. Condo is built on leased land! 43 years left on lease before renegociation ?
2. 1 entity owns more than 10% of these 150 units.
3. Down payment is partially coming from retirement 401k! 

If you think your underwriting can approve these 3 factors please call or E-mail immediately for more info:

Jimmy 
[Content removed by Zillow moderator, see our Good Neighbor Policy for posting guidelines]  

   
  • August 16 2014
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Profile picture for asefehshirafka
Hi I am looking for a wholesale lender to do loan on non Warrantable condo One entity owns over 50% of The project and all are rental Please call me [Content removed by Zillow moderator, see our Good Neighbor Policy for posting guidelines]
  • August 03 2014
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Profile picture for dpalermo8
Yes, I'm a CA lender that can provide Non-(un)warrantable condo refinance. Projects with litigation or high vacancy factors, or high investment ownership, normally are not eligible for conventional financing, however we have a in house warehouse line for these condo's. Please call to discuss, [contact information/spam removed by Zillow moderator, see our Good Neighbor Policy].

thank you. 
 
  • May 27 2014
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Advancial will do investment non-warrantable condos.
  • March 13 2014
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Yes there are lenders in California that can do this. You will need the usual requirements such as good credit, verifiable income, sufficient down payment, and good equity. If your finances are strong in these areas then there are non-warrantable financing options that would be available to you. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
  • March 12 2014
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Yes - I can lend on Non-warrantable condos.  Even condos that are rentals or non-owner occupied as they are sometimes called.  25-30% down is required with good credit needed.   Refi or purchase.  I work for a bank that does Portfolio lending - meaning we lend our own money out - not Fannie Mae, Freddie Mac or FHA.

I think the other Brokers on here don't want to put their source online because the buyer will shop direct to that source and remove the middleman...
  • December 15 2013
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Profile picture for Brookstone Mortgage
I see 2 more new posts claiming they can do this. One person says: "there are plenty of resources available."

Why not post these sources then since you know of so many. This would be a great thread to help people find financing of a NON OWNER OCCUPIED condo where the investor concentration is too high.

LeiW,

If you have found a source of financing, please post it.
  • November 21 2013
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Hi Lei,

I am a California lender, and we are able to lend on non-warrantable condos.  I'll be happy to take a look and give you some specific advice for your scenario.  Please contact me if interested.  Good luck!

Robert
  • November 21 2013
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www.nonwarrantablecondoloans.net
www.hoalitigationcondoloans.com

there are plenty of resources available
  • November 21 2013
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Profile picture for Brookstone Mortgage
"Yes.  Bank of Internet Federal Bank and Flagstar Bank have loans for non-warrantable condos. "
-----------
They have financing on non-warrantable INVESTMENT condos?
Everyone keeps saying they have financing for non-warrantable condos. Well so does everyone else. The question is is they will lend on an investment property. 
  • September 26 2013
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We have a portfolio lender who will lend on non-warrantable condos.

Feel free to reach out to me via my profile.

Best,

Bryan
  • September 26 2013
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Profile picture for BartGabe
We do non warrantable condo loans nationwide. Click on my profile to connect.
  • September 26 2013
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Profile picture for CA Direct Lending
Yes.  Bank of Internet Federal Bank and Flagstar Bank have loans for non-warrantable condos. 
  • September 26 2013
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Profile picture for Brookstone Mortgage
That's a tough one. Finding financing for Investment, non-warrantables is tough. Wish I had a solution but I will tell you that you should thoroughly vet anyone telling you they have a source before you expend any time and certainly before you pay any money.

Good luck and if you find someone, please post because that's a much needed product.
  • September 25 2013
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Profile picture for LeiW
Yes, it is investment property. And the owner ratio is the only issue.
  • September 25 2013
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Profile picture for Brookstone Mortgage
I am assuming this is being purchased as an investment property, otherwise it wouldn't matter. Owner occupied or non-owner? Is that the only reason it's non-warrantable?
  • September 25 2013
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